Trupanion (NASDAQ:TRUP) Price Target Raised to $34.00

Trupanion (NASDAQ:TRUP) had its target price increased by research analysts at Stifel Nicolaus from $29.00 to $34.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Stifel Nicolaus‘s price target suggests a potential downside of 7.48% from the company’s current price.

Several other brokerages also recently weighed in on TRUP. Wall Street Zen raised shares of Trupanion from a “hold” rating to a “buy” rating in a report on Saturday. Atlantic Securities set a $42.00 price target on Trupanion in a report on Wednesday, July 15th. Piper Sandler cut Trupanion from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $45.00 to $32.00 in a report on Wednesday, August 26th. Cantor Fitzgerald boosted their price objective on Trupanion from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Weiss Ratings raised Trupanion from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.00.

Trupanion Stock Performance

TRUP opened at $36.75 on Monday. The firm has a market cap of $1.59 billion, a P/E ratio of 60.25, a PEG ratio of 2.16 and a beta of 1.27. Trupanion has a 1-year low of $21.16 and a 1-year high of $46.98. The company has a 50 day simple moving average of $27.14 and a two-hundred day simple moving average of $26.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.74 and a quick ratio of 1.74.

Trupanion (NASDAQ:TRUP) last announced its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. The firm had revenue of $405.59 million during the quarter, compared to analysts’ expectations of $402.53 million. Trupanion had a net margin of 1.71% and a return on equity of 6.71%. During the same period in the prior year, the company posted $0.13 earnings per share. Equities analysts forecast that Trupanion will post 0.64 earnings per share for the current fiscal year.

Insider Transactions at Trupanion

In other news, CEO Margaret Tooth sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $25.84, for a total transaction of $25,840.00. Following the sale, the chief executive officer directly owned 184,952 shares of the company’s stock, valued at $4,779,159.68. This represents a 0.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Fawwad Qureshi sold 6,111 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $30.01, for a total transaction of $183,391.11. Following the sale, the chief financial officer directly owned 4,230 shares in the company, valued at approximately $126,942.30. The trade was a 59.09% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 14,046 shares of company stock valued at $407,743. 5.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Trupanion during the 2nd quarter valued at about $134,774,000. Bank of America Corp DE purchased a new stake in Trupanion in the 2nd quarter worth about $14,262,000. Renaissancere Holdings Ltd. purchased a new stake in Trupanion in the 2nd quarter worth about $6,514,510. Bank of New York Mellon Corp purchased a new stake in Trupanion in the 2nd quarter worth about $4,631,000. Finally, Kopion Asset Management LLC lifted its stake in Trupanion by 30.9% in the second quarter. Kopion Asset Management LLC now owns 522,999 shares of the financial services provider’s stock worth $12,955,000 after purchasing an additional 123,308 shares during the last quarter.

About Trupanion

Trupanion, Inc is a pet insurance company that provides medical insurance coverage for cats and dogs. Its products are designed to help pet owners manage the cost of veterinary care, including coverage for eligible illnesses, injuries and other qualifying medical conditions, subject to the terms of each policy.

The company offers subscription-based pet insurance through the Trupanion brand, with coverage generally intended for ongoing veterinary expenses rather than routine or preventive care.